Is it better to charge daily or monthly?

[playfelt]

I am paid on Monday for the week ($35x5 - to be $40 in Sept for new families). It is due on Monday, Tuesday it is due with a late fee and on Wednesday - no money no care. No money by Friday and obviously no care for three days and I put my ads up to replace. I think I have only had two over the years that ended up taking their child through the drivethrough ATM Wednesday morning after being refused care and then returning with child and money plus two days of late fees. No one has ever gotten to Friday.

[fruitloop]

I'm paid on the first of every month. I'd rather get paid once, have to go to the bank once, etc. I budget my money for the month. Monthly fees are pretty much the norm here (just outside of Calgary).

[Momof4]

I charge weekly too, $32/day so $160/week for 49 weeks per year, except for the 3 weeks I'm closed for my holidays. I get paid for stat days, sick days or missed days for any reason, full weekly pay no matter what. If I have part time children they pay $35/day for every day they attend, but if they have booked a day and don't come to daycare for any reason they still have to pay.

I have some families who pay weekly and some families who pay every two weeks. By doing it this way, one amount no matter what there are never any questions.